PIF convenes 1,000 global executives in Riyadh to shape next phase of governance
PIF convenes 1,000 global executives in Riyadh to shape next phase of governance/node/2601328/business-economy
PIF convenes 1,000 global executives in Riyadh to shape next phase of governance
The Directors’ Gathering, launched in 2023, is a key pillar of PIF’s corporate excellence agenda. X/@PIF_en
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Updated 19 May 2025
MOHAMMED AL-KINANI
PIF convenes 1,000 global executives in Riyadh to shape next phase of governance
Discussions centered around redefining board impact in the national transformation
The Directors’ Gathering, launched in 2023, is a key pillar of PIF’s corporate excellence agenda
Updated 19 May 2025
MOHAMMED AL-KINANI
JEDDAH: º£½ÇÖ±²¥â€™s Public Investment Fund gathered over 1,000 top executives in Riyadh for its second Directors’ Gathering, unveiling new governance priorities amid rapid portfolio expansion.Â
The event, which brought together representatives from approximately 220 portfolio firms — including over 100 established by PIF itself — focused on enhancing board performance, aligning strategic priorities, and promoting cross-sector synergies to deepen collaboration across the fund’s growing portfolio.Â
Discussions were centered around redefining board impact in the context of national transformation, strengthening oversight in a changing risk landscape, and navigating new governance challenges posed by artificial intelligence and emerging technologies, according to a press release.Â
The Directors’ Gathering, a knowledge-sharing platform for portfolio companies, featured majlis sessions and panels on national transformation, succession planning and risk management.
— Public Investment Fund (@PIF_en)
The event comes as PIF accelerates its dual mandate of advancing º£½ÇÖ±²¥â€™s economic diversification and generating long-term global returns. Since its 2015 transformation, the fund has grown into a globally influential investor, managing $941.3 billion in assets in 2024 and playing a key role in Vision 2030.Â
Speaking to the delegates, PIF Governor Yasir Al-Rumayyan, highlighted PIF’s vision and that the roles of boards include three main priorities: brainstorming and setting strategy, ensuring the right governance frameworks are in place for management, and monitoring performance, with a view to the ever-changing macro-economic context and evolving innovations.Â
“He stressed that this could transform challenges into opportunities to lead, grow and innovate,†the release added.Â
H.E. Yasir Al-Rumayyan, Governor of , gave the opening remarks at the PIF Directors’ Gathering.
— Public Investment Fund (@PIF_en)
Al-Rumayyan also urged directors to view PIF and its 220 companies as a unified ecosystem, emphasizing the importance of leveraging the group’s collective capabilities. He added that collaboration should be considered the primary measure of success.Â
The Directors’ Gathering, launched in 2023, is a key pillar of PIF’s corporate excellence agenda and serves as a platform for knowledge exchange and governance development not only within its portfolio but across º£½ÇÖ±²¥â€™s business ecosystem.Â
PIF was ranked as the world’s second most active sovereign investor by deal value in February, committing $3 billion in global transactions, according to Global SWF, a data platform tracking sovereign wealth fund activity.Â
In a fireside chat titled “Aligning the Economic Vision,†Minister of Economy and Planning Faisal Al-Ibrahim, who also sits on the the sovereign wealth fund’s board, said the existence of PIF portfolio companies and the related ecosystem is in itself a form of resilience, according to a post on the fund’s official X account.Â
H.E. Faisal Alibrahim, Minister of Economy and Planning, and Board Member, attended a fireside chat at the Directors’ Gathering on ‘Aligning the Economic Vision’.
— Public Investment Fund (@PIF_en)
Al-Ibrahim added: “We are transforming our economy and restructuring the Saudi economy to create more engines of growth, more drivers of progress, and a diversified set of growth sources.† Â
In another fireside chat titled “Evolving Investment Strategy,†Head of the Global Capital Finance Division and Head of the Investment Strategy and Economic Insights Division at PIF, Fahad Al-Saif, said the fund is responsible for investing in assets that generate maximum economic impact for º£½ÇÖ±²¥ while also maximizing financial returns for the fund.Â
“This is done within a robust framework, across duration for us to become a generational fund in the future,†he said in another X post by PIF.Â
Fahad AlSaif, Head of the Global Capital Finance Division and Head of Investment Strategy and Economic Insights Division at participated in a fireside chat on ‘Evolving Investment Strategy: A Focus on Performance’ at the PIF Directors’ Gathering.
Innovation is helping AI understand the region’s language, culture, and voice
Updated 6 sec ago
Nada Hameed
JEDDAH: As developers across the Arab world work to formalize Arabic for artificial intelligence — grappling with its many dialects, limited datasets, and deep cultural nuance — English-based AI systems have continued to surge ahead. Now, industry experts say it’s time for Arabic users to gain the same technological momentum.
The performance gap between Arabic and English natural language processing is most visible in speech recognition, where pronunciation, rhythm, and vocabulary differ sharply across dialects. These variations make it challenging for one model to understand spoken Arabic with consistent accuracy.
Despite these hurdles, progress is accelerating. With rising investment and government-backed initiatives led by º£½ÇÖ±²¥ and other regional powers, Arabic AI is steadily closing in on English in sophistication and accessibility.
As Arabic AI evolves, experts emphasize the importance of cultural nuance and dialect diversity in future language models. (aramcoworld.com)
Amsal Kapetanovic, head of KSA at Infobip, told Arab News: “While written NLP tasks like basic chatbots can be managed with additional work, speech recognition really exposes the limitations of current models. It requires even more fine-tuning and adaptation to handle the diversity of spoken Arabic effectively. This is where the gap between Arabic and English NLP is most pronounced.â€
Infobip’s recent collaborations with telecom and private sector partners across the Gulf reveal a similar pattern: Arabic chatbots and virtual assistants often require greater oversight in their early stages than English systems. However, once they are retrained using region-specific conversational data and Gulf dialects, both accuracy and customer satisfaction rise sharply.
Arabic remains one of AI’s greatest linguistic challenges. Unlike English, it is not a single unified language but a family of dialects stretching from Asia to Africa. Its complex morphology — with prefixes, suffixes, gender and number agreement, and the absence of short-vowel diacritics — poses major obstacles for tokenization and model training.
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Kapetanovic referenced a 2025 study published in JMIR Medical Informatics (“InfectA-Chat: An Arabic Large Language Model for Infectious Diseasesâ€), which tested instruction-tuned models like GPT-4 in both English and Arabic. The research found that Arabic models still trail English by 10–20 percent in complex tasks.
“Arabic models still lag slightly behind English ones, particularly in areas like accuracy and sentiment analysis,†he said. “This is primarily due to the smaller size of Arabic training datasets and the complexity of Arabic dialects.â€
He added: “Arabic itself is a family of languages and dialects — much richer and more complex than many others. This diversity adds another layer of challenge.â€
Amsal Kapetanović, head of KSA unit at Infobip. (Supplied)
Yet optimism remains strong. “The good news is that there is significant investment happening, especially in the MENA region, with countries like º£½ÇÖ±²¥ leading the way,†Kapetanovic said. “Initiatives like Vision 2030 are accelerating progress, and we’re seeing more focus on localizing AI for Arabic speakers.â€
Speech recognition continues to represent the most visible gap. “A Lebanese speaker and a Saudi speaker might use different words and speak at different speeds, making it challenging for a single model to recognize and process spoken Arabic accurately,†he said.
Localization, Kapetanovic explained, extends far beyond translation. “At Infobip, we are defining the evolution of communications in co-creation with our customers and partners throughout the region. Gartner has recognized us as a Leader in their 2025 Magic Quadrant for CPaaS. We are committed to delivering the next generation of AI-powered customer conversations to unlock seamless, high-impact engagement for MENA businesses. That’s why we put a strong emphasis on localizing our AI-driven platforms and tools to serve Arabic-speaking users effectively.â€
Technical, cultural, and ethical challenges shape the future of Arabic AI, as developers strive for inclusion and linguistic parity. (aramcoworld.com)
Real-world applications are already bearing fruit. “For example, Nissan º£½ÇÖ±²¥ rolled out a WhatsApp chatbot (‘Kaito’) that handles customer queries in both Arabic and English,†he said. “These bots leverage Infobip’s Answers platform, which includes built-in NLP capabilities for Arabic — such as right-to-left text support and Arabic stop-word recognition — to interpret queries and intent.â€
“For º£½ÇÖ±²¥ and the Gulf, we’ve gone beyond simple translation by implementing features and partnerships tailored to the region,†he continued.
“We’ve partnered with Lucidia, a leading Saudi tech company, to co-develop solutions that address local business needs and integrate with popular regional channels like WhatsApp and X.â€
“We’ve also built language models that recognize Gulf-specific dialects and cultural expressions, making our chatbots and automation tools more intuitive for users. Additionally, our platform supports local payment integrations and business workflows unique to the region. These initiatives reflect our commitment to delivering genuinely localized technology, not just Arabic language support.â€
DID YOU KNOW?
• º£½ÇÖ±²¥ is leading investment in Arabic AI, with Vision 2030 initiatives.
• AI can become biased and exclusionary if it does not speak or understand Arabic well.
• Infobip’s Arabic chatbots now ‘think’ in Gulf dialects, improving accuracy.
Cultural understanding, he added, is key to truly human-like AI. “Culturally aware AI should ideally be AI that understands the why behind the what,†he said. “It’s about deep research and understanding the background — not just giving straight answers to straight questions.â€
“At Infobip, we integrate with multiple large language models and do so in an agnostic way,†he said. “We combine them and see which ones serve which purpose, giving us the flexibility to avoid pitfalls like AI hallucination or unwanted replies.â€
The ethics of language and inclusion
Kapetanovic cautioned that neglecting Arabic in AI development poses not only technical risks but ethical ones.
“The ethical risk is that AI can become biased and exclusionary if it doesn’t speak or understand Arabic well,†he said. “If AI systems don’t handle certain languages or dialects properly, or if they lack enough regional data, they can exclude parts of the narrative or reinforce bias.â€
“It’s essential for everyone in the AI ecosystem to contribute to making AI as inclusive and democratized as possible. Otherwise, we risk reinforcing disparities in services, information, and opportunities.â€